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by joomooru
1257 days ago
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Suppliers lobby to limit the amount of housing being built. Suppliers build luxury apartment buildings which are out of reach for lower-income residents, further limiting supply in the lower band of the housing market. Surely the suppliers share a large part of the blame here. |
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If "suppliers" means "existing homeowners and landlords", then sure.
If "suppliers" means "developers building new real estate", then your assertion is blatantly false. Developers have a financial incentive to build and sell as many units as possible. And in practice they are lobbying to build as much as possible, but are running into problems:
* environmental reviews a.k.a. bored busybodies' legal right to oppose anything being built anywhere and delay your project for years
* regulations limiting how many units can be built on a given lot (height limits, parking minimums, zones prohibiting multifamily buildings)
* regulations making construction unnecessarily expensive (e.g. NYC regulations making it prohibitively expensive for most projects to operate a construction crane)
* racist local politicians who fight tooth and nail against any new units in their neighborhood because then people with the wrong skin color might move in (this applies to local politicians of all skin colors; e.g. see https://www.ny1.com/nyc/all-boroughs/politics/2022/03/03/har...).